KATHMANDU, July 22: The Ministry of Finance has issued a 47-point directive to all ministries, commissions and government agencies to ensure effective implementation of the current fiscal year's budget.
Issued on Monday, the directive instructs agencies to implement the budget within the stipulated timeframe, improve the effectiveness of capital expenditure, ensure the prudent use of resources, and regularly monitor development projects.
Finance Ministry starts necessary homework for timely implement...
It requires ministries and agencies to update approved programmes and budgets in the Line Ministry Budget Information System (LMBIS) on time, prepare procurement and annual work plans at the beginning of the fiscal year, and promptly address implementation issues.
The directive also calls for spending funds only for their intended purposes, curbing unnecessary expenditure, ensuring transparent and time-bound public procurement, and making payments for development projects based on work performance.
It further directs agencies to strengthen revenue collection and internal controls, protect public assets, maintain fiscal discipline, and improve project monitoring, progress reviews and reporting.
According to the ministry, the directive aims to address delays in budget implementation, improve capital spending, and ensure development targets are met.
